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ATO Reports On Tax Time 2012

by Mary Swire, Tax-News,com, Hong Kong

11 December 2012

The Australian Taxation Office (ATO) has published its latest progress report, which provides details of returns received during "Tax Time" 2012.

The report reveals that the ATO has finalized 9.19m returns, including 8.18m 2012 year returns, for the Tax Time 2012 period. The period, which ran from July 1 to October 31, saw around 60% of all returns lodged and 40% of all calls from taxpayers and their agents to the ATO.

As at the close of business on November 30, 99% of all returns received during the Tax Time 2012 period had been finalized. The ATO's year-to-date service standard performance for electronic individual returns for the Tax Time period is 98% finalized within 12 business days. The benchmark figure was set at 94%.

The ATO says it saw continuing growth in the popularity of its e-tax service during Tax Time. It had received just over 2.5m lodgements via e-tax by the end of November, a 2.29% increase on last year. The ATO also took 5.3m calls during Tax Time, answering 92% of all tax practitioner calls within two minutes and 84% of general taxpayer calls within five minutes.

Almost 87,000 income tax returns were suspected of being fraudulent or containing incorrect claims. Around 42,500 reviews have been completed, with 18,000 returns held for further review and 26,500 released following cross checking against third party data.

TAGS: compliance | tax | tax compliance | Australia | tax authority | individual income tax

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